Final expense insurance is a compassionate and practical financial solution. It’s designed to cover funeral costs, medical bills, and other end-of-life expenses, relieving families from financial strain during a difficult time. However, selling final expense insurance often involves addressing objections that stem from confusion, cost concerns, or discomfort with the topic of death.
In this guide, we’ll guide you how to address common objections in final expense insurance sales and provide effective strategies for overcoming them.
Key Takeaways:
- Objections indicate interest, not rejection.
- Address concerns with empathy and facts.
- Final expense insurance addresses urgent, emotional needs.
- Tailor affordable plans to meet client budgets.
- Prevent objections by educating early and asking the right questions.
Table of Contents
What Is Final Expense Insurance?
Final expense insurance, also known as burial or funeral insurance, is a small whole life insurance policy designed to cover immediate expenses like:
- Funeral costs
- Medical bills
- Legal fees or outstanding debts
These policies typically provide:
- Coverage amounts ranging from $5,000 to $25,000
- Simplified underwriting (no medical exam required)
- Affordable premiums, especially if purchased early.
Why Objections Matter In Sales?
Objections are often a sign of engagement rather than rejection. When a prospect raises an objection, it’s an opportunity to:
- Address misinformation and misunderstandings
- Build credibility and trust
- Reframe the conversation around the prospect’s actual needs
- Guide them closer to a decision.
Top 7 Common Objections In Final Expense Insurance Sales and How To Overcome Them:
1. “I Already Have Life Insurance”:
Response:
“That’s great! Final expense insurance is designed to work alongside traditional life insurance. It covers immediate needs like funeral costs that often exceed $10,000, ensuring your loved ones aren’t left waiting for larger policies to pay out.”
Highlight how final expense insurance fills the “immediate need” gap that many life insurance policies overlook.
2. “I Can’t Afford It”:
Response:
“I understand. We offer flexible plans starting around $20/month. Let’s explore options tailored to your budget. Something is always better than leaving your family unprotected.”
Use relatable cost comparisons, such as “less than your monthly coffee,” to make the affordability angle more appealing.
3. “I Need to Think About It”:
Response:
“Take your time. Are there any questions or concerns I can clear up while you’re considering? I want you to make a fully informed decision.”
“I need to think about it” often masks deeper objections. Use follow-up questions to uncover what’s really causing hesitation.
4. “I’m in Good Health”:
Response:
“That’s wonderful! Now is the best time to secure coverage. The healthier you are, the lower your premium, and it ensures future insurability if your health changes.”
Emphasize the benefits of securing affordable coverage while in good health.
5. “I Don’t Want to Talk About Death”:
Response:
“I understand, it’s an uncomfortable subject. But discussing it now ensures your family doesn’t have to handle everything later. It’s an act of love, not just a policy.”
Reframe the conversation around legacy, care, and peace of mind, rather than focusing on death.
6. “My Family Will Handle It”:
Response:
“They may want to, but will they have $10,000 readily available? A final expense policy helps prevent emotional grief from becoming financial stress.”
Share stories illustrating the consequences of not having final expense insurance, highlighting real-life outcomes.
7. “I’ve Had Bad Insurance Experiences”:
Response:
“I’m sorry to hear that. That’s why I only represent top-rated, transparent carriers. Let’s go over how this works so you feel confident and informed.”
Offer testimonials, policy comparisons, and clear documentation to rebuild trust.
Proven Strategies To Prevent Objections:
- Educate Early: Clearly explain the benefits of final expense coverage before objections arise.
- Ask Better Questions: Understand the client’s concerns and situation to better tailor your responses.
- Use Visual Aids: Compare plan costs and benefits with easy-to-understand charts.
- Tell Stories: Share real testimonials and client experiences to build emotional connection.
- Build Rapport: Establish trust early, clients are more likely to purchase from someone they like and trust.
Conclusion – Common Objections In Final Expense Insurance Sales:
Addressing objections in final expense insurance sales is more about empathy than persuasion. When agents approach objections with honesty, patience, and real solutions, they provide families with peace of mind during one of life’s most challenging moments. Listening, educating clearly, and personalizing responses will not only close more sales but also build lasting trust with your clients.
FAQs:
What’s the ideal time to introduce final expense insurance?
During retirement or estate planning discussions, it naturally fits into future financial protection plans.
How do I know if the objection is real or a smokescreen?
Ask follow-up questions. Most surface objections hide deeper concerns or misunderstandings.
How do I respond if adult children object on behalf of the prospect?
Respectfully involve them and explain the financial impact. Include them in decision-making if the client allows.
Can I sell final expense insurance entirely over the phone?
Yes, Just ensure state-specific licensing requirements and compliance with TCPA and CMS.
What’s one tip to reduce objections overall?
Build rapport early. People buy from those they trust and feel comfortable with. Tone and transparency matter as much as your pitch.